In 2014, trade among BRICS countries grew to $291bn

Picture source: cont.ws

In 2014, trade among the BRICS countries grew to $291bn, Russia’s Economic Development Minister Alexey Ulyukaev said at a meeting of BRICS economy and trade ministers on July 7.

“In recent years, trade among the BRICS countries has grown by 70% to $291bn in 2014. Last year Russia’s trade with BRICS made up $105bn. The share of BRICS in the global GDP grew from 19% in 2001 to 30% in 2014,” Ulyukaev said.

He said that BRICS ensured 17% of global trade, 13% of global services, 45% of global agriculture. “Our aggregate GDP in terms of purchasing parity grew from $10tn in 2014 to $32.5tn in 2014,” the Russian minister said.